Cannabis Law Report

DECEMBER 4, 2019

Despite the 2018 US Farm Bill clearly permitting financial transactions in the hemp industry, many banks and other financial institutions have been slow to participate, blaming their fear of the risk of federal regulatory crackdowns.

Banking 59

Banking Hemp Advocacy Business 59

Cannabis Law Report

JUNE 22, 2019

Will hemp taint your banking relationship? . Farmers across the country have started growing hemp under the 2014 farm bill while the regulations for the 2018 farm bill are sorted out by the USDA and state departments of agriculture. If you wish to re-publish this story please do so with following accreditation.

Banking 45

Banking Hemp Business Agriculture 45

Greenspoon Marder Cannabis Law Group Blog

AUGUST 26, 2019

Last week, the National Credit Union Administration (NCUA) issued interim guidance stating that federally insured credit unions may provide certain financial services to legally operating hemp businesses. The need for cannabis businesses to have access to banking services continues to gain federal support.

Banking 40

Banking Hemp Marijuana Events 40

Cannabis Law Report

JANUARY 28, 2019

Vote Hemp Releases 2018 U.S. Hemp Crop Report Documenting Industrial Hemp Cultivation and State Legislation in the U.S. WASHINGTON, DC —Vote Hemp, the nation’s leading grassroots hemp advocacy organization, has released its 2018 U.S. Hemp Crop Report. To view the complete 2018 U.S.

Hemp 40

Hemp Cultivation Legislation Digestion 40

The Joint Blog

DECEMBER 10, 2019

On Tuesday a coalition of federal agencies released a joint statement noting that financial institutions including banks and credit unions may work with individuals and businesses involved in the hemp industry. “This statement provides banks with background information on the legal status of hemp, the U.S.

Banking 34

Banking Hemp Agriculture Business 34

The Blunt Truth

SEPTEMBER 10, 2019

Following last year’s passage of the 2018 Farm Bill, the National Credit Union Administration (NCUA) issued a regulatory update in August of 2019 to federally insured credit unions. As to the effects of the 2018 Farm Bill, the NCUA highlighted three points.

Hemp 78

Hemp Business Compliance Compliance 78

Cannabis Law Report

DECEMBER 14, 2019

On December 3, 2019, four federal agencies, in consultation with state banking regulators, clarified the legal status of hemp growth and production under the Bank Secrecy Act (BSA) for banks 1 providing financial services to hemp-related businesses. JD Supra Release. Background. percent on a dry weight basis.”

Hemp 59

Hemp Business Banking Agriculture 59

Canna Law Blog

JANUARY 11, 2020

We are heading into the first decade of scaled commercial hemp production in the United States since the 1920s. Hemp is legal. The international market is taking form and access to banking services is expanding. But the USDA’s interim rules governing the production of hemp threaten significantly this economic juggernaut.

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THC Hemp Supply Chain Concentrates 102

Cannabis Law Report

JULY 2, 2019

The world of marijuana banking has been rife with compliance risks for years. Legal Hemp Growing. The passing of the 2018 Farm Bill provides new opportunities for financial institutions to legally serve a certain class of marijuana-related business. The Farm Bill changes the classification of hemp to an agricultural product.

Banking 40

Banking Hemp Marijuana Compliance 40

Canna Law Blog

JANUARY 29, 2019

In December 2018, Congress passed the Agricultural Improvement Act of 2018 (better known as the “ Farm Bill ”). Among other things, the passage of the bill removed industrial hemp from the federal Controlled Substances Act, allowing legal production of the crop. the Food and Drug Administration’s role in hemp CBD.

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Hemp CBD Topical Food 92

Medicinal Genomics

NOVEMBER 5, 2019

Last week the USDA issued its much-anticipated interim final rule for hemp manufacturing. In a conference call, the USDA further clarified that hemp samples should only include flower and could be as little as the top 2” of the upper-most flower. . The language in the 2014 Farm Bill classified hemp as cannabis with less than 0.3%

THC 81

THC Hemp DEA Banking 81

Canna Law Blog

MARCH 15, 2020

The Agriculture Improvement Act of 2018 ( 2018 Farm Bill ) legalized hemp by removing the crop and its derivatives from the definition of marijuana under the Controlled Substances Act (CSA) and by providing a detailed framework for the cultivation of hemp. Today we turn to Puerto Rico. Mississippi. New Hampshire.

Hemp 54

Hemp CBD Agriculture Cultivation 54

Canna Law Blog

MARCH 22, 2019

Department of Agriculture (“USDA”) held a public meeting during which hemp stakeholders shared their opinion on the promulgation of rules to regulate the crop. Specifically, the federal agency is to review and approve “plans” submitted by states and Indian tribes that choose to hold primary regulatory authority over hemp.

Hemp 70

Hemp Supply Chain Agriculture Banking 70

Veriheal

JUNE 17, 2020

Since hemp was federally legalized under the 2018 Farm Bill, it is now considered an agricultural commodity like any other crop. The department’s new memo, released early April 2020 to state and county offices provides clarity on how to process direct or guaranteed loan applications for hemp producers.

Hemp 52

Hemp Agriculture Banking Access 52

Greenspoon Marder Cannabis Law Group Blog

MARCH 14, 2019

On March 13, 2019, the United States Department of Agriculture (“USDA”) Specialty Crops Program held the first planned listening webinar to solicit public comment on the implementation of the 2018 Farm Bill as it pertains to hemp. The post USDA Hemp Webinar Summary appeared first on Greenspoon Marder Cannabis Law.

Hemp 64

Hemp Agriculture Programs Banking 64

Canna Law Blog

MAY 14, 2019

Banking , intellectual property , food and beverage (and cosmetics ), international trade , domestic trade , state laws , ag production contracts , etc., When it comes to industrial hemp, the 2018 Farm Bill upended all of these things. All told, the amount of private capital flowing into hemp and hemp-CBD is extraordinary.

Hemp 75

Hemp CBD Policy Banking 75

The Blunt Truth

FEBRUARY 3, 2022

Idaho legalizes hemp. And finally, if you’re a woman who likes hemp drinks, Pepsi has a new product just for you. The long-time advocate of banking reforms that would allow cannabis businesses to use the federal financial system has one more trick up his sleeve before heading home, though. Hemp is now legal in all 50 states!

Banking 111

Banking Hemp Events Legislation 111

Cannabis Law Report

MARCH 13, 2019

Here’s their press release in full…… DeJoy, Knauf & Blood LLP Launches Cannabis and Hemp Advisory Practice. The new practice leverages the firm’s in-depth cannabis and hemp industry knowledge and expertise of the tax implications, regulatory environment, as well as critical operating and financial procedures.

Hemp 71

Hemp Business Banking Concentrates 71

Canna Law Blog

FEBRUARY 20, 2019

Congress passed the Agricultural Improvement Act of 2018 (better known as the “ Farm Bill ”) in December 2018 which removed hemp from the federal Controlled Substances Act. This further resulted in hemp-based cannabidiol or “hemp-CBD” legalization. the Food and Drug Administration’s role in hemp-CBD.

Hemp 67

Hemp CBD Topical Food 67

Canna Law Blog

MAY 22, 2022

This post covers the SAFE Banking Act, the Medical Marijuana Research Act, the Cannabidiol and Marihuana Research Expansion Act, and the Hemp Advancement Act. SAFE Banking Act. Representative Ed Perlmutter (D-CO) introduced the SAFE Banking Act in March 2021. Hemp Advancement Act. Medical Marijuana Research Act.

Legislation 74

Legislation Banking Hemp Cannabis 74

Cannabis Law Report

SEPTEMBER 10, 2019

Following last year’s passage of the 2018 Farm Bill, the National Credit Union Administration (NCUA) issued a regulatory update in August of 2019 to federally insured credit unions. As to the effects of the 2018 Farm Bill, the NCUA highlighted three points.

Hemp 45

Hemp Business Compliance Compliance 45

Veriheal

AUGUST 14, 2023

In a recent controversial move, Mastercard issued a directive to United States banks, ordering them to block cannabis purchases on its debit cards. This new mandate struck a chord because, unlike credit cards, debit cards are linked directly to an individual’s bank account. THC by dry weight.

Banking 98

Banking Dispensary Cannabis Recreational 98

Cannabis Law Report

SEPTEMBER 12, 2022

Before 1937, industrial hemp was legal and used for clothing, paper, rope, and fuel. Hemp was grown by our forefathers—even required of early colonists. plant illegal, including hemp, a sturdy low THC variety. Hemp was briefly re-legalized in World War II to make canvas and other items requiring the strength hemp provides.

Hemp 52

Hemp CBD Food Extraction 52

Cannabis Law Report

DECEMBER 11, 2019

Mertz , is being accused of civil theft and conspiracy for keeping hundreds of thousands of dollars from the sale of unhealthy hemp clones to a Colorado farm and then using that money to improve his hemp farm infrastructure so the two year old farm could be flipped and sold. National Hemp Exchange was started in Monte Vista, CO.

Hemp 98

Hemp Seed-To-Sale Strains Banking 98

Cannabis Law Report

APRIL 5, 2022

This included both the Porsche and Lamborghini that had to be turned over to David Brockway at 5star Bank by 2pm on February 15th. 5star Bank also issued Folium one of its $2 million PPP loans, which government records show Folium says was used to retain around 200 employees during Covid-19 lockdowns. . Kashif Shan. 5Star Stip.

Banking 52

Banking Extraction Law Safety 52

Canna Law Blog

NOVEMBER 20, 2020

That was expected to change for hemp and CBD businesses after the 2014 Farm Bill, and especially after hemp was legalized as a commodity under the 2018 Farm Bill (and removed from the Controlled Substances Act). GenCanna was a vertically integrated hemp producer and CBD manufacturer.

Hemp 55

Hemp Business DEA Banking 55

Canna Law Blog

AUGUST 23, 2019

Commercial marijuana activity remains a federal crime, and the Bank Secrecy Act (“BSA”) generally prohibits financial institutions from accepting marijuana-generated dollars. That has made it very difficult for many hemp and hemp-derived CBD (“Hemp-CBD”) businesses to access bank accounts.

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Hemp Business Cultivation Banking 69

Cannabis Law Report

SEPTEMBER 15, 2019

A dramatic rise of hemp planted this year has been seen around the world and in particular the U.S., with 46 states having licensed farms since the farm bill was passed in December 2018. billion dollars of hemp will be rotting in farmer’s fields this fall. that is required to process hemp into CBD oil before it spoils.

Hemp 45

Hemp Supply Chain CBD Banking 45

Cannabis Law Report

SEPTEMBER 24, 2019

As early as September 23, 2019, the United States House of Representatives is expected to vote on the widely anticipated Secure and Fair Enforcement (SAFE) Banking Act. Today’s cannabis industry encompasses the growth, processing, distribution, and other ancillary services related to both hemp and marijuana.

Banking 40

Banking Law Compliance Compliance 40

Cannabis Law Report

JANUARY 11, 2019

hemp farming has arrived. Hemp once served as the fabric of the American imagination. gentlemen farmers such as George Washington and Thomas Jefferson, hemp was one of the nation’s leading cash crops until a misguided prohibition emerged in the early 20th century. hemp farmers are protected. hemp farmers are protected.

Hemp 45

Hemp Advocacy Programs Banking 45

Cannabis Law Report

FEBRUARY 6, 2019

Hemp once served as the fabric of the American imagination. gentlemen farmers such as George Washington and Thomas Jefferson, hemp was one of the nation’s leading cash crops until a misguided prohibition emerged in the early 20th century. A renewed multi-billion-dollar American hemp industry has been unleashed.

Hemp 40

Hemp Programs Banking Agriculture 40

The Blunt Truth

OCTOBER 29, 2019

Plus, the USDA just issued an interim rule for hemp production. USDA Issues Proposed Rule for Hemp Production. The 2018 Farm Bill, which federally legalized hemp (formerly a Schedule I drug like its close cousin, marijuana), opened the gates for mass hemp production—well, almost. those with THC levels above 0.3%).

Hemp 45

Hemp Legislation CBD Research and Development 45

Cannabis Law Report

SEPTEMBER 28, 2019

The ABA reports on itself, “ The ABA ventured into a complex legal field last week with what organizers say was its first national conference on cannabis and hemp law.” While cannabis remains illegal under federal law, industrial hemp was legalized as part of the 2018 Farm Bill.

Hemp 55

Hemp Law Cannabis Policy 55

Cannabis Law Report

JANUARY 11, 2019

Hemp Roundtable, Frost Brown Todd, Lexington, KY. Hemp Roundtable, Amin Talati Upadhye, Washington, DC. . Upon the December 20, 2018 signing of the 2018 Farm Bill, the era of hemp prohibition is over. federal law protects the retail sale of hemp-derived CBD. . Jonathan Miller , General Counsel to the U.S.

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Hemp CBD Law Seed-To-Sale 49

Canna Law Blog

APRIL 21, 2023

We have more publicly traded cannabis companies than ever thanks to continued state-by-state legalization and the 2018 Farm Bill. That crowdfunding platform hosted two crowdsource offerings for cannabis and hemp companies, which sold up to $2 million of unregistered securities. Take, for recent example, TruCrowd Inc.

Banking 67

Banking Cannabis Business Dispensary 67

Cannabis Law Report

SEPTEMBER 12, 2021

Top Federal Financial Regulator Slams Congress Over Marijuana Inaction And Calls For Interagency Banking Workgroup. Hood Remarks at the PBC Conference 2021: Payments, Banking, Compliance in the Cannabis Industry. Here’s his full presentation. September 2021. NCUA Board Member Rodney E. Board Member Rodney E.

Banking 89

Banking Law Legalization Hemp 89

The Blunt Truth

DECEMBER 5, 2019

And in Wisconsin , Governor Tony Evers signed legislation making the state’s pilot hemp program permanent. Also, its rules now align with the 2018 farm bill. In banking news, the Federal Reserve released guidance this week allowing banks to work with the hemp industry. So is Brazil. See you next week!

Chronic Pain 61

Chronic Pain Decriminalization Banking Hemp 61